Page 15 - Banking Finance April 2023

ROUNDUP

steps taken by the Government of In- year. Services exports during the 10- with Airtel 5G services by the end of
dia. As a welfare State, it is very im- months period are estimated at USD March 2024.
portant that we listen to every indi- 272 billion.
The company informed it has sur-
vidual," he said.
passed the 10 million unique 5G user
Mr. Rijiju said the Modi government 429 items have got GI Tag milestone, on its network. In Novem-
has been at the forefront of taking ber 2022, Airtel became the first and
so far: DPIIT
various steps, especially in creating only operator to have 1 million unique
As many as 429 products like Mysore
"ease of living" for common citizens. customers on its network within 30
Silk, Kangra Tea and Thanjavur Paint-
"Policies of the government regarding days of its commercial launch, the
ings have been granted Geographical
the ease of living are successful," he statement added.
Indications (GIs) tag as on date, includ-
said. It is pertinent to mention that high
ing 31 foreign goods, according to the
The Law Minister said the government commerce and industry ministry. speed 5G services were launched in the
believes that laws are for the people country, on October 1, 2022. The 5G
The department for promotion of in-
and if laws become obstacles and com- services powers ultra-low latency con-
dustry and internal trade (DPIIT), an
pliances become a burden on the lives nections, which allow downloading full-
arm of the ministry, said that steps
of people, then such provisions must be length high-quality video or movie to
have been taken to promote these
a mobile device in a matter of seconds
done away with.
goods.
(even in crowded areas).
"A total of 429 GIs have been regis-
Exports may cross $750 The fifth Generation or 5G would, go-
tered as on date in India, including 31
ing forward, would enable powerful
billion foreign products," the DPIIT said in its
solutions such as e-health, connected
annual report 2022-23.
The country's goods and services ex- vehicles, more-immersive augmented
ports are marching ahead to cross USD A GI is primarily an agricultural, natu- reality and metaverse experiences,
750 billion in the current financial year ral or a manufactured product (handi- life-saving use cases, and advanced
and talks for expanding rupee trade craft and industrial goods) originating mobile cloud gaming, among others
with certain countries are at an ad- from a particular geographical terri- applications.
vanced stage, Commerce and Industry tory.
Minister Piyush Goyal said. Typically, such a name conveys an as- Japan provide Rs. 2,288
Goyal said that last year the exports surance of quality and distinctiveness,
crore loan for two projects
reached an all-time high of USD 676 which is essentially attributable to the
Japan will provide loans worth Rs 2,288
billion. place of its origin.
crore to India for the Mumbai Trans-
We are inching close and marching There is a proper process of registra- Harbour Link Project in Maharashtra
ahead to cross USD 750 billion of goods tion of GI products, which includes fil- and for a Super-Specialty Cancer and
and services exports in 2022-23We are ing of application, preliminary scrutiny Research Centre in Mizoram.
expanding rupee trade with several and examination, show cause notice,
An official statement said that Japan
countries, many of which are at an publication in the geographical indica-
has approved JPY 30.755 billion or
advanced stage of dialogue and tions journal, opposition to registra-
about Rs 1,728 crore for the project in
finalisation., he said here at the CII tion, and registration.
Maharashtra and JPY 9.918 billion or
partnership summit.
around Rs 560 crore for developing the
Airtel crosses the 10m
Earlier, exports used to hover at centre in Mizoram.
around USD 500 billion every year, he unique user mark Mumbai Trans-Harbour Link Project
added.
Bharti Airtel announced that it has aims to improve connectivity in
India's merchandise exports during crossed the 10 million unique 5G user Mumbai Metropolitan Region by con-
April-January this fiscal have increased mark on its network. In a statement, necting Mumbai with Navi Mumbai,
to USD 369.25 billion as against USD the company said it is well poised to thereby contributing to mitigation of
340.28 billion in the same period last cover every town and key rural areas traffic congestion and promoting re-

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